Fed raises rates, retains 'measured' stance

The Federal Open Market Committee decided on Tuesday 22 March to raise its target for the federal funds rate by 25 basis points to 2-3/4 percent. In its statement the FOMC retained its "measured" stance on interest rate increases, adding that "pressures on inflation have picked up in recent months."

The Committee believes that, even after this action, the stance of monetary policy remains accommodative and, coupled with robust underlying growth in productivity, is providing ongoing support to